Quarterly report pursuant to sections 13 or 15(d)

Income Taxes

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Income Taxes
 6 Months Ended
Sep. 30, 2013
Income Taxes  
Income taxes

NOTE 7 – INCOME TAXES

 

As of September 30, 2013, the Company had net operating loss carry forwards of approximately $41,636 that may be available to reduce future years’ taxable income in varying amounts through 2032. Future tax benefits which may arise as a result of these losses have not been recognized in these financial statements, as their realization is determined not likely to occur and accordingly, the Company has recorded a valuation allowance for the deferred tax asset relating to these tax loss carry-forwards.

 

The provision for Federal income tax consists of the following for the six months ended September 30, 2013 and 2012:

 

         
    2013   2012
Federal income tax benefit attributable to:                
Current operations   $ 8,394     $ 2,090  
Less: valuation allowance     (8,394 )     (2,090 )
Net provision for Federal income taxes   $ 0     $ 0  

 

The cumulative tax effect at the expected rate of 34% of significant items comprising our net deferred tax amount is as follows:

 

         
    September 30, 2013   March 31, 2013
Deferred tax asset attributable to:                
Net operating loss carryover   $ 14,156     $ 5,762  
Less: valuation allowance     (14,156 )     (5,762 )
Net deferred tax asset   $ 0     $ 0  

 

Due to the change in ownership provisions of the Tax Reform Act of 1986, net operating loss carry forwards of approximately $41,636 for Federal income tax reporting purposes are subject to annual limitations. Should a change in ownership occur net operating loss carry forwards may be limited as to use in future years.